Timely, accurate payments are the cornerstone of strong vendor relationships, and myTrack simplifies this by auditing invoices, ensuring compliance, and integrating seamlessly with ERP systems.
But it all begins with effective vendor onboarding—a critical step that can feel overwhelming when time is limited.
Onboarding Vendors in a Turnaround or Outage
In a facility with thousands of contractors employed by numerous vendors, the pressure can be immense. While automating your Accounts Payable processes enhances accuracy and reduces errors, this automation is only as effective as the vendor information entered into the system.
Under normal circumstances, onboarding new vendors is a manageable task, as they are brought in sporadically, allowing for a controlled onboarding process.
However, during a major turnaround, where hundreds of vendors flood in simultaneously, the pressure intensifies. These large-scale turnarounds and outages, often costing hundreds of millions and planned years in advance, must be executed within a tight window—typically around 35 days. The stakes are high; delays can lead to significant financial losses, while a well-executed turnaround can yield long-term benefits.
The success of a turnaround depends on efficient vendor onboarding. Here’s what to consider for a smooth process.
Best Practices for Onboarding Vendors
Part of turnaround or outage planning should include processes involved with onboarding vendors. The TRACK Coordinator should work in conjunction with the turnaround team to align on both contractual terms and execution strategy. It is imperative to understand:
With this information, the TRACK Coordinator can ensure that appropriate schedules and pay formulas are assigned to facilitate accuracy in net time.
Setting Expectations
Planning should also take place with the vendors themselves. Meet with the vendor timekeepers to review and establish standards related to allocation expectations (within 24 hours).
Discussing and resolving “what-if” scenarios in advance can prevent potential issues from arising during the turnaround or outage. Once the project occurs, it becomes a matter of adhering to established standards and always keeping the lines of communication open.
When vendors understand the rules and expectations, such as work schedules and allocation times, they’re less likely to submit mismatched timesheets. Preventing mismatches between invoices and POs reduces delays and confusion.
Get Out of the Silo and Communicate
Many employees feel busy and even overwhelmed. Because they’re focused on getting their work done, they stay in a silo. “Fostering collaboration across organizational silos,” according to Harvard Business Review,“ is key to improving performance, unlocking innovation, and speeding up coordination.”
When employees work in silos, communication breaks down, reducing efficiency. If the TRACK Coordinator or Accounts Payable team focuses solely on immediate tasks, like processing overrides, they are less likely to ensure accurate and timely payments.
Instead, they should remember that they are part of a team and engage with the vendors using this program. By communicating with vendors and other team members, potential issues are addressed, and mistakes are avoided.
Make the Most of Insights
TRACK ensures that contractors are paid accurately according to the contract. TRACK Coordinators can maximize the benefits by adhering to best practices and leveraging real-time data provided by Insights.
By reviewing Insights, the TRACK Coordinator gains a deep understanding of what is occurring in real-time. They can answer questions such as:
Knowing the answers to these questions in real-time helps management make crucial decisions, potentially determining the success of a turnaround or outage. Information learned afterward is still valuable and can guide future actions.
However, as noted above, a turnaround or outage can cost hundreds of millions of dollars. So, why wait for a future turnaround and forfeit the potential savings on the current project? Going over budget can result in a cascade of issues, including delaying future maintenance projects because funding is unavailable.
The Insights generated by the system’s data start with the proper and timely onboarding of vendors.
Onboarding vendors is time-consuming as there are many factors to consider. These include:
Who has time to decipher what the data means? That’s where MServ, our-managed service offering, comes into the picture. We level up our client’s processes and get them to the maturity curve faster.
Our MServ team has years of experience, so they can interpret the data and make sure clients are aware of all the important information. They present metrics and introduce dashboards so clients gain a stronger perspective.
The MServ experts can also onboard vendors. Their experience empowers them to do it very quickly.
With clearly defined processes, good communication, and TRACK, companies can onboard vendors with ease.
When done right, invoicing goes from customer-driven to owner-driven. The Accounts Payable team can be confident that they are paying vendors accurately, as per the contract. This, along with timely payments, helps maintain budgets and good relationships with vendors. Ultimately, this keeps turnarounds and outages on budget.
How MCi Can Help
Turnarounds and outages are high-stakes events that require precision, coordination, and effective vendor management. With myTrack, you can streamline the onboarding process, ensure compliance, and maintain control over your budget, all while fostering strong vendor relationships. Don’t leave the success of your turnaround to chance—leverage myTrack to gain real-time Insights, automate crucial processes, and drive your project to completion on time and within budget.
Ready to transform your turnaround or outage management? Contact us today to learn how myTrack can make the difference.